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These days, finding an affordable place to live in the Milwaukee area can be challenging. Home prices in Milwaukee are now at a median cost of $304,601, higher than the Wisconsin average of $280,373.
The average cost of rent is $1,290/mo in Milwaukee, primarily driven by the current value of real estate in the Milwaukee area. In Milwaukee, 39.62% of households rent, and 36.41% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Milwaukee is $7,337 per month. Households that rent pay about 17.58% of their income on rent here. Milwaukee’s most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- West Milwaukee, WI: less expensive homes
- Wauwatosa, WI: higher priced homes
- Shorewood, WI: higher priced homes
- West Allis, WI: less expensive homes
- Whitefish Bay, WI: higher priced homes
- Glendale, WI: equally priced homes
- Elm Grove, WI: higher priced homes
- Greenfield, WI: less expensive homes
- Butler, WI: less expensive homes
- St. Francis, WI: less expensive homes
Cities with Similar Populations
- Folsom, CA: higher priced homes
- Enterprise, NV: higher priced homes
- Florissant, MO: less expensive homes
- Flower Mound, TX: higher priced homes
- Fort Collins, CO: higher priced homes
- Erie, PA: less expensive homes
- Dallas, TX: higher priced homes
- Cordova, TN: equally priced homes
- Dayton, OH: less expensive homes
- Daly City, CA: higher priced homes
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